Question

Name the company in which the paid-up capital held by the government is not less than 51 percent. Explain its features.


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Answer 1

Answer:

Section 2(45) of the Indian companies act, 2013, defines government company as, "Any company in which not less than 51% of the paid up share capital is held by the central government, or by any state government."

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Answer 2

Hello !

There are approximately 300 companies comes under this category in India.

Name of Some:

Air India, Hindustan Petroleum, IISCO Steel Plant, GAIL

Explanation:

Features:

• These are considered separate legal entities from Government and  run by a board of directors.

• Their employees are not government employees their working environment is similar to private companies.

• Annual Profit and Loss statement is present to the parliament annually.

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